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Cyber Crime Drives Up The Cost Of Insurance

For companies and organisations, an attack by hackers can inflict financial losses, corporate embarrassment and legal action. For insurers jumping into the brave new world of cyber-crime insurance, it’s free marketing for what could be a $10 billion opportunity. High-profile computer breaches like the hack of the Democratic National Committee and the Twitter Swastika Hack are reinforcing the need for protection against cyber threats, ... Read More »

FICO: 6 Principles for Cyber Risk Scores — and Why We Need Them

A FICO Contribution on Cyber Security Ratings The use of scores that rate a firm’s cybersecurity risk — such as the FICO® Enterprise Security Score — is picking up momentum. In an effort to ensure that these scores consistently add value, and to ensure that they help rather than harm businesses, a group of firms recently convened to develop industry standards for ... Read More »

Cyber Security: WannaCry Was Not A Phishing Attack

The WannaCry ransomware threat didn’t begin with malware-infected phishing emails as first suspected, according to a new analysis from Malwarebytes.  The security vendor claimed it had been “an easy mistake to make”, but that in reality, the now-infamous campaign began by scanning for vulnerable SMB ports exposed to the public Internet. Security researchers have had a busy week since the WannaCry ... Read More »

Cyber Security: Employees That Cause Data Breaches

When it comes to cyber-crime, it’s easy to imagine that the biggest threat to your company is external. However, more and more companies are realizing that trusted and trained employees can also pose an enormous threat. Indeed, a recent report by Haystax Technology discovered that 74% of organizations questioned “feel vulnerable to insider threats,” with 56% of security professionals certain that “insider ... Read More »

TransUnion and Equifax Launch Multi-Bureau Lock

Unique, two-bureau feature enhances identity theft protection, data security TransUnion® (NYSE: TRU) and Equifax Inc. (NYSE: EFX) have entered into an agreement to launch a first-of-its-kind identity theft protection feature, Multi-Bureau Lock, that allows customers to lock both their TransUnion and Equifax credit reports. This agreement reinforces Equifax and TransUnion’s shared commitment to identity theft protection and data security by making it ... Read More »

Cyber Security Battles: Predictions for 2017

Is your organization prepared to increase its cyber security investment in 2017 to deal with newer and greater numbers of cyber threats? In 2017, cyber security battles may favor criminals even more as the Internet of Things (IoT) continues to expand possible avenues of attack. The 2017 security predictions from FireEye include insights on: What investments in security organizations will ... Read More »

Cybersecurity Has A Serious Talent Shortage

It’s a refrain we have been hearing for the past 18 months from clients all over the world: “We need more skilled people for our security team.” A report from Frost & Sullivan found that the global cybersecurity workforce will have more than 1.5 million unfilled positions by 2020. But the security industry is a fast-growing market, with IDC pegging it as ... Read More »

Systemic Cyber Attacks Most Likely In Finance & Energy Industries

Do recent power outages in L.A., NYC, and San Francisco serve as a foreshadowing of more systemic attacks to come in 2017? Systemic cyber attacks on the financial and energy industries might include mass business interruptions, mass, DDoS co-ordinations against financial institutions, mass data theft, or flaws in commonly used electronic medical record software or widely used payment processing software/hardware. ... Read More »

Bank Data Breaches Are Up and It’s An Inside Job

There have been many high-profile bank breaches in the news of late, and much of the blame has been laid on these institutions’ legacy operating systems, and their inability to cope with new forms of cyber-attacks, including breaches. However, a bigger security flaw may in fact come from another source. Data breaches are on the rise in financial services (FS): ... Read More »

Transparency: Baidu Requires Real-name Registration for its Services

China’s leading search engine Baidu on Thursday required users of the company’s services, including popular online forum Baidu Tieba and cloud storage service, to register their real identities before June, otherwise they may be prevented from accessing the services. Baidu said in a statement that the requirement was in accordance with China’s Cyberspace Law, which stipulates that an Internet operator ... Read More »

Five Reasons Cyber Scoring Is the Next Big Idea for Credit Unions

The greatest risk to credit unions and CUSOs today is the loss of members’ trust and financial safety. Can your institution survive a cyber breach? Understanding your cyber risk is a critical part of protecting yourself and your members. That’s why FICO launched the FICO® Enterprise Security Score last year. And now, our cyber score has been selected as one of 5 ... Read More »

China Cybersecurity and Data Protection Laws: Changes to Become Effective June 1, 2017

China’s new Cybersecurity Law will become effective on June 1, 2017. In addition to focusing on cybersecurity, the law also details how companies are to handle personal information and data. In determining what is allowed and not allowed for handling personal information in China, it is important to examine The Decision on Strengthening Information Protection on Networks (2012), The Guidelines ... Read More »

The Cybersecurity Threats That Keep Banks Alert

In the current climate of major data breaches amidst an ever-shifting cyber threat landscape, the people in charge of vast volumes of valuable financial data are under increasing pressure to keep customer data safe from hackers and fraudsters. Speaking at the SWIFT Business Forum in London at the end of April, a range of senior security professionals at financial services firms and ... Read More »

Unprecedented Cyber Attack Hit UK Healthcare Services

Security Experts Dash to Contain Ransomware Attack.  Sensitive data exposed by deep flaws at the heart of the interconnected global digital economy.  Over 150 countries affected. Authorities around the world are scrambling to tackle one of the most virulent cyber attacks to date, as fears mount over the safety of huge amounts of sensitive data, ranging from medical records to ... Read More »